Bolivia’s President Rodrigo Paz appointed deputy minister Christian Morales as the new Economy and Public Finance Minister on Tuesday, following the removal of Jose Gabriel Espinoza by lawmakers last week.
Morales, who previously served as Espinoza’s deputy, was sworn into office as the Andean nation grapples with a severe economic crisis marked by declining natural gas production, dwindling foreign-currency reserves, fuel shortages and a scarcity of U.S. dollars.
Paz stated that the government is engaged in negotiations with multilateral institutions to secure commitments totaling between $7 billion and $10 billion for Bolivia. The funds are intended to stabilize the economy and address structural challenges.
In his inaugural remarks, Morales pledged to prioritize economic stability, strengthen public finances, foster investment and employment, and restore confidence in Bolivia’s financial system. Paz also urged Congress to expedite an investment bill aimed at enhancing legal certainty and attracting both domestic and foreign capital.
The leadership change comes as Bolivia faces mounting fiscal pressures and external financing constraints, underscoring the urgency of structural reforms and multilateral support.
